In the process of inserting integrated circuits and other circuits and components of dual-in-line or quad configurations into appropriate sockets on circuit boards, or removing them, it is frequently difficult to prevent the bending or breaking of contact pins, or the breaking of fragile units by inadvertent application of uneven pressure. The problem is particularly acute where insertion or removal operations are attempted by hand. To overcome such difficulties various tools have been devised for these tasks. Most of these tools are operative for only one or the other of these operations, requiring the technician to have a variety of insertion and removal tools at hand, which in turn entails unnecessary expense and the possibility of inefficiency to the extent that the wrong tool is picked up. It is therefore desirable to have a simple and efficient tool which is capable of inserting and extracting integrated circuits respectively into and from circuit boards, as desired.